R Gandhi

'We should not call it as demonetisation because it is still a legal tender', says R Gandhi

Former Reserve Bank Deputy Governor R Gandhi on Friday said withdrawal of the Rs 2,000 bank notes will help in curbing black money to a "great extent" because people are hoarding the high value currency. Gandhi, who was leading the currency department during the demonetisation of 2016, told PTI that any systemic impact on payments is unlikely because the notes are not used in day-to-day payments, which mostly go through in a digital manner. However, the Rs 20,000 limit on a single exchange transaction -- where those having the Rs 2,000 notes can go to a bank branch for exchanging the currency with bills of other denominations - may lead to "operational inconvenience" as some people may have to do multiple visits to a bank branch. When asked about the impact of the Rs 2,000 notes withdrawal on the agenda of curbing black money, Gandhi said it will help to a "great extent", and reminded that one of the intentions of demonetisation was also to curb black money in the economy. The Rese

The Reserve Bank has approved the appointment of its former deputy governor R Gandhi as non-executive part time chairman of Yes Bank for three years, a regulatory filing said. Gandhi's appointment comes into effect from September 20, 2022. Yes Bank, in its regulatory filing on Tuesday, said the appointment follows recommendation of its board of directors to the RBI. The Reserve Bank vide its letter dated September 20, 2022 has approved the appointment of Rama Subramaniam Gandhi as non-executive (part time) chairman of the bank for a period of three years effective from Tuesday, Yes Bank said. A seasoned central banker with 37 years of experience, Gandhi was a deputy governor of the Reserve Bank of India (RBI) for three years from 2014 to 2017. He also had a three-year secondment to the Securities and Exchange Board of India (SEBI) and also held the charge of Director of the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad. Gandhi also worked in vari

Ex-RBI deputy governor says they must become financial conglomerates

Former RBI deputy governor R Gandhi on Wednesday said some lending apps have been indulging in wrongful recovery practices for loans

He likes to keep a low-profile, but behind the scenes Gandhi has been the driving force for many banking and financial services industry reforms

NBFCs have captured space vacated by lenders ignoring SME segment

He said there are at present times several congruent factors that indicate that consolidation in Indian banking scene has its right time